(Reuters) - The U.S. insurer Aetna has signed an agreement to buy rival Coventry Health Care Inc. for $ 5.7 billion (4.6 billion euros) in shares and cash, according to the Wall Street Journal.
Aetna will pay 42.08 dollars per share Coventry, which represents a premium of 20.4% over the closing price on Friday, said the financial daily said, citing sources familiar with the matter.
If the transaction is confirmed, it will be the latest example acquisition in the healthcare industry in the United States, a sector undergoing consolidation. Sector companies seeking to expand their business to take advantage of institutional reform of the U.S. health care system.
Earlier this year, the Supreme Court of the United States upheld the law on the health system promised by Barack Obama, which aims to extend health coverage to more than 30 million uninsured Americans.
The acquisition of Aetna Coventry must help to go from 23% to 30% share of sales achieved in public health activities, according to the Wall Street Journal.
Aetna hopes that the acquisition will contribute positively to the tune of 45 cents per share in 2014 and its results up to 90 cents per share in 2015, writes the daily.
Aetna and Coventry were not available for comment.
According to the Wall Street Journal, the boards of Aetna and Coventry have approved the agreement, which must be formalized Monday.
In July, the health insurer WellPoint had said he wanted to buy Amerigroup Corp for 4.46 billion dollars.
Last October, it was atoned Cigna Corp., which HealthSpring for $ 3.8 billion.
Aetna will pay 42.08 dollars per share Coventry, which represents a premium of 20.4% over the closing price on Friday, said the financial daily said, citing sources familiar with the matter.
If the transaction is confirmed, it will be the latest example acquisition in the healthcare industry in the United States, a sector undergoing consolidation. Sector companies seeking to expand their business to take advantage of institutional reform of the U.S. health care system.
Earlier this year, the Supreme Court of the United States upheld the law on the health system promised by Barack Obama, which aims to extend health coverage to more than 30 million uninsured Americans.
The acquisition of Aetna Coventry must help to go from 23% to 30% share of sales achieved in public health activities, according to the Wall Street Journal.
Aetna hopes that the acquisition will contribute positively to the tune of 45 cents per share in 2014 and its results up to 90 cents per share in 2015, writes the daily.
Aetna and Coventry were not available for comment.
According to the Wall Street Journal, the boards of Aetna and Coventry have approved the agreement, which must be formalized Monday.
In July, the health insurer WellPoint had said he wanted to buy Amerigroup Corp for 4.46 billion dollars.
Last October, it was atoned Cigna Corp., which HealthSpring for $ 3.8 billion.
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